* TSX up 0.8%

* Technology shares top gainers

* Energy stocks post biggest declines in a week

* LOGISTEC to go private, shares rise

Oct 16 (Reuters) - Canada's main stock index climbed on Monday following a surge in information technology shares, while rising long-term government bond yields and risks of a potential escalation in the Middle East conflict kept investors cautious.

At 10:55 a.m. ET (1455 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 161.09 points, or 0.83%, at 19,623.95.

Information technology stocks were the top gainers during the session and climbed 1.5% to log their best day in nearly two weeks.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.7%, boosted by a rise in copper prices on a weak U.S. dollar.

Gold prices declined after a strong rally in the previous session, even as demand for the safe-haven asset remained tight over the prospects of the Middle East conflict escalating.

Yields on the U.S. and Canadian benchmark bonds rose on reports that the United States is trying to prevent the tensions between Israel and Hamas from spilling further.

Rate-sensitive real estate and the financial stocks added 1.1% each.

Energy sector dropped 0.2% as oil prices slipped as investors continued to mull the potential impact of the escalating Israel-Hamas conflict on oil prices.

"If investors believe the Middle East conflict could spread to Iran, Syria, etcetera, then we could see a larger spike in the price of oil," said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.

Investors will now focus on comments from Philadelphia Federal Reserve President Patrick Harker for more clues on the U.S. central bank's interest rates path.

In corporate news, Canada's LOGISTEC Corp rose 12.2% after the marine cargo handling firm agreed to go private in a $67/ share buyout deal with Blue Wolf Capital Partners.

Meanwhile, the Bank of Canada's third-quarter survey found that Canadian businesses see inflation easing over the next two years. Many still expect it to take over three years to return to the central bank's 2% target. (Reporting by Khushi Singh in Bengaluru; Editing by Tasim Zahid)